Skip to content

tax credit from condo hallway refurb

April 7

As income tax filing time for Canadians approaches, if you personally didn’t do any major permanent improvements to your condo unit this past year that amount to more than $1,000 you’re probably thinking that you can’t take advantage of the CRA Home Renovation Tax Credit (HRTC) for the 2009 taxation year. Don’t dismiss that idea so quickly. If you are an owner of a condo unit in a building where eligible permanent improvements were made to common areas and elements, the cost of which was paid for out of the operating budget / reserve fund of your condo corporation to which you have made contributions through your condo fees, you may be entitled to claim your portion of the eligible expenses. Speak to your condo corporation representative for full details and to request a receipt of your portion of the eligible HRTC expenses. My condo corporation completed a number of improvements that qualify for the HRTC, including renovating the hallway of each floor. I am thrilled with the updated décor (here are the before and after shots) and with the credit that I can apply to my 2009 income tax return.

3 Comments leave one →
  1. Jaffacake permalink
    April 9 10:08 am

    Thanks for sharing – I’m sure many people aren’t aware of this!

  2. stylenorthchris permalink
    April 18 9:59 am

    Great post Susan! And congratulations on your new blog. I look forward to visiting regularly.

  3. April 18 10:16 am

    Thank you, Chris! An esteemed compliment indeed, as it comes from you.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: